Oil Supplies

Part of the debate – in the House of Commons at 12:00 am on 5 November 1973.

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Photo of Mr Peter Walker Mr Peter Walker , Worcester 12:00, 5 November 1973

If such cuts continued there would be considerable difficulties in Europe and the world in general. However, the duration of such cuts is uncertain. Developments are taking place with a view to a peace settlement in the Middle East, and we have to bear in mind the effects that those negotiations will have. We do not anticipate a position in which these cuts will be continued for a long period and will cover all countries. The European situation is a matter which my right hon. Friend the Foreign and Conmonwealth Secretary is discussing today with the Foreign Ministers of Europe.